Vancouver, British Columbia--(Newsfile Corp. - October 30, 2023) - First Hydrogen Corp. (TSXV: FHYD) (OTC Pink: FHYDF) (FSE: FIT) ("FIRST HYDROGEN" or the "Company") is pleased to announce further to the news release of October 16, 2023, the Company's track day will be held on October 31 at the HORIBA MIRA, UK, proving ground to test drive First Hydrogen's hydrogen-fuel-cell powered vehicles (FCEV). Attendees will include some of Europe's and UK's largest companies, from parcel delivery, supermarkets, healthcare, leasing, and utilities to mining.
All attendees will have hands-on access to First Hydrogen's FCEVs and the chance to drive them including technical presentations and a vehicle walkaround to showcase under-the-hood technology. The attendees will have the opportunity to discuss the practicalities of introducing the FCEVs into their own zero-emission fleets. Fortune Business Insights reported the global electric vehicle market was valued at US384.65 billion in 2022 and is projected to grow from US500.48 billion in 2023 to US1,579.10 billion by 2030.
First Hydrogen's vehicles have achieved a range of over 630km (400 miles), which is well ahead of the 193km (120 miles) Worldwide Harmonised Light Vehicle Test Procedure (WLTP) minimum range requirement of the zero emission vehicle (ZEV) mandate and the range of equivalent battery electric vehicles (BEVs). The vehicles have already undergone road trials with fleet management company Rivus and energy company SSE and are currently undertaking operations with major parcel delivery companies.
Balraj Mann, CEO First Hydrogen, stated: "We are excited to showcase our zero emission FCEVs which have recently attained a range of more than 630km (400 miles) on a single refuelling. Our FCEVs are noted for ease of driving and efficient powertrain technology which allows our FCEV the ability to carry large payloads without compromising on the range in any weather conditions. With the UK Government's recent recognition of hydrogen fuel cell electric vehicles within its definition of zero emissions vehicle, sales of the hydrogen fuel cell vehicles will be included in production targets for zero emission vehicles. This will trigger UK investment in hydrogen vehicle sector and more specifically, the Company's FCEV."
About First Hydrogen Corp. (FirstHydrogen.com)
First Hydrogen Corp. is a Vancouver and London UK-based company focused on zero-emission vehicles, green hydrogen production and distribution. The Company has designed and built hydrogen-fuel-cell-powered light commercial vehicles ("FCEV") in partnership with AVL Powertrain and Ballard Power Systems Inc. The FCEV has a range of 630+ kilometres. These vehicles are being trialled with fleet operators in the United Kingdom. First Hydrogen is also developing a 35MW green hydrogen production facility and vehicle assembly factory in Shawinigan, Quebec.
On behalf of the Board of Directors of
FIRST HYDROGEN CORP.
Chairman & Group CEO
First Hydrogen Corp.
Cautionary Note Regarding Forward-Looking Statements This news release contains information or statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Forward-looking information may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, milestones, strategies and outlook of First Hydrogen, and includes statements about, among other things, future developments and the future operations, strengths and strategies of First Hydrogen. Forward-looking information is provided for the purpose of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements should not be read as guarantees of future performance or results.
The forward-looking statements made in this news release are based on management's assumptions and analysis and other factors that may be drawn upon by management to form conclusions and make forecasts or projections, including management's experience and assessments of historical trends, current conditions and expected future developments. Although management believes that these assumptions, analyses and assessments are reasonable at the time the statements contained in this news release are made, actual results may differ materially from those projected in any forward-looking statements. Examples of risks and factors that could cause actual results to materially differ from forward-looking statements may include: the timing and unpredictability of regulatory actions; regulatory, legislative, legal or other developments with respect to its operations or business; limited marketing and sales capabilities; early stage of the industry and product development; limited products; reliance on third parties; unfavourable publicity or consumer perception; general economic conditions and financial markets; the impact of increasing competition; the loss of key management personnel; capital requirements and liquidity; access to capital; the timing and amount of capital expenditures; the impact of COVID-19; shifts in the demand for First Hydrogen's products and the size of the market; patent law reform; patent litigation and intellectual property; conflicts of interest; and general market and economic conditions.
The forward-looking information contained in this news release represents the expectations of First Hydrogen as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. First Hydrogen undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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